Pending
3321 Chester Lane
Bakersfield CA, 93309
$1,990,000
$128.22 per sqft
Pending
15,520 sqft
Town House
Built in 1984
Listed by Brad New with Vanguard Property Group 714-446-0100
Major price adjustment - seller willing to meet the market. The Chester Lane Townhomes is a true opportunity for a savvy investor; priced well below replacement cost ($131 CPSF) and 6.42 Cap/8.8 GRM on actual rents with upside to 7.67 Cap/7.95 GRM on market rents. The subject property is a 16 unit multifamily property located approximately 1/4 of a mile from the 99 frwy and California Avenue Exit (west Bakersfield), in a quiet cul-de-sac street. Built in 1984, the Chester Lane Townhomes are situated on a self-contained, gated access, 40,000 sf lot and consists of 16 spacious (2+1.5) townhome style units with approx. 950 sf each; all units have central AC/HT, patios, in-unit washer & dryer hookups, separate gas/electric meters, and RUBS in place for lower overall landlord utility expense. There is ample parking available with a total of 33 onsite spaces of which 12 are covered. There are two potential onsite storage rooms (currently unrented) for additional landlord income. The Chester Lane Townhomes is priced to sell, well below replacement - a perfect apartment investment for investors looking for cash flow and equity growth.
PW24006820
MLSⓇ ID
January 17, 2024
Listed
May 3, 2024
Updated
Map
3321 Chester Lane
Bakersfield CA, 93309
Interior Features
Total Stories
2
Laundry Description
Stacked
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.92 Acres
Lot Features
16-20 Units/Acre, Lot Over 40000 Sqft
Roof
Tile
Sewer
Sewer Tap Paid
Other Property Details
Area Name
BKSF - Bakersfield
Days on Market
41
Garage
No
Parking
Asphalt, Covered, Gated, Paved, One Space
Parking Total
45
View
No
County
Kern
Water Source
Public
Pool
No
Pool Features
None
Zoning
R-2
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
|---|---|---|
2/29/2024 | Pending | — |
2/16/2024 | Price Change | $1,990,000 -17% |
Listing Contact: 714-446-0100
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Data last updated on 5/3/2024 at 7:13 PM UTC